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Fannie Mae and Freddie Mac are raising risk fees charged to lenders on loans they buy for resale to investors for the first time since 2009. They are also adding risk fees to more loans offered to borrowers with exemplary credit. Although lenders could absorb the cost, most are expected to add the fees to loan costs.

To avoid a fee or to receive a discount, most borrowers will need FICO scores of 740 or better and down payments of at least 25 percent.

The fee increases likely will affect most loans with terms longer than 15 years that are sent to Freddie beginning March 1, and to Fannie beginning April 1.

The most notable aspect of the fee increase is that the fees are being added to more loans to borrowers with higher credit scores. With few exceptions, risk fees previously hadn’t applied to borrowers with FICO scores of 740 or higher.

I often say that now is the time to buy. If you have excellent credit, closing on a Tehachapi or Kern County area home loan before March or April could save you money. Everyone likes to save money don’t they?

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Many folks find making comparisons interesting. So, whether you live in the Tehachapi area now, or are thinking about moving here, you can check out how the major Tehachapi communities compare in active and sold listings.

The data shown in for 2010 through November 17. It was gathered from the Tehachapi Area Association of REALTORS® MLS. Note that TSA stands for the Tehachapi Service Area and includes all the data for the communities shown as well as the other smaller communities in the area.

Let me know if you are interested in more specific information for one of the other communities.

Stallion Springs

Alpine Forest

Bear Valley Springs

Golden Hills

Tehachapi City

TSA

Current Active Listings

50

11

104

76

60

362

Average List Price

$216,967.00

$175,181.00

$303,082.00

$197,826.00

$151,326.00

$246,884.00

Average Days On Market

124

48

143

133

94

134

Total Listed

126

35

274

198

190

945

Number Sold

49

12

108

81

101

391

Percent Sold

38.89%

34.29%

39.42%

40.91%

53.16%

41.38%

Average List Price Sold

$190,279.00

$145,237.00

$232,459.00

$178,605.00

$154,838.00

$193,953.00

Average Sale Price Sold

$184,549.00

$135,205.00

$218,854.00

$172,356.00

$147,727.00

$184,752.00

Sale Price/List Price Ratio

96.99%

93.09%

94.15%

96.50%

95.41%

95.26%

Average Days On Market Sold

178

122

141

113

118

139

Average List Price Unsold

$244,759.00

$203,959.00

$317,343.00

$205,252.00

$143,140.00

$252,359.00

Percent Expired

30.95%

31.43%

28.83%

22.73%

17.37%

26.46%

There are lots of interesting facts to note from the table:

Stallion Springs has the highest ratio of List Price to Sold Price (followed closely by Golden Hills).

Golden Hills homes spend the least amount of time on the market before selling.

Bear Valley Springs has the most Current Active Listings and the highest Average List Price Sold, followed by Stallion Springs.

Bear Valley Springs has the longest Average Days on Market for Active Listings, but is ranked third for Sold Listings.

Alpine Forest has the fewest Active and Sold listings and the Sale Price to List Price Ratio is the lowest among the 5 communities.

Tehachapi City has the highest percentage of Sold properties, Alpine Forest has the lowest.

Do you find any of the information here surprising? Again, if you would like more specific information on a specific area, just let me know.

There’s been a lot of discussion, rallying, support, emails, phone calls, and more in an effort to keep the Stallion Springs Fire Station open. In case you missed it, there was a good chance that it was going to fall to the Kern County Supervisors budgetary axe. I’m please to report that all the hard work worked!

I received this email this morning from Susan Mueller:

THANK YOU FOR YOUR SUPPORT AND YOUR COMMUNITY SPIRIT!!!! THE FIRE STATION WILL NOT CLOSE!!!! We had some 100 residents from Stallion Springs, Bear Valley, Fairview Ranches. Alpine and surrounding areas at the Supervisor’s meeting. All your letters, phone calls and emails worked. Our Fire Station will not close. What a wonderful community we have. I knew that when I moved here 13 years ago. I’m proud to be a part of anything that works positively together for the good of all the people. Thank you again and again!! You are AWESOME!